PZG - Pamodzi Gold - Update On Status Of Pamodzi Gold
Pamodzi Gold Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/013039/06)
Share code: PZG
("Pamodzi Gold" or "the Company")
UPDATE ON STATUS OF PAMODZI GOLD
Further to the announcement released on SENS on 17 September 2009, and as
indicated therein, the court has sanctioned the sale of Pamodzi Gold Free
State assets to Harmony Gold Mining Company Limited on 15 September 2009.
Furthermore a liquidation application lodged by the Industrial Development
Corporation ("IDC") against Pamodzi Gold has been served on the Company,
which application has been set down to be heard on 2 November 2009.
Without the Free State assets, the inclusion of which was a condition for
the CADF funding, the CADF funding is no longer a viable option.
As a result of the above, the Board of Directors of Pamodzi Gold have
resolved not to oppose the liquidation application lodged against the
Company by the IDC, as there is no reasonable prospect of the claim being
18 September 2009
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/09/2009 12:14:01 Supplied by www.sharenet.co.za
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